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Does Balance Sheet shows current period profit & loss ?

Would like to know does system balance sheet shows P & L balances for current period if it does not show which other account head does it affect in Balance Sheet ?

Accounting Audit Support Auditing
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Question added by Murtuza Lalbaugwala , Associate Auditor
Date Posted: 2013/06/16
Upvote (4) Views (144) Followers (16) Answers (67) Report Question
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Farhad Ali
by Farhad Ali , Accountant , AL Aaly holding

yes it is included in the retained earning

Deleted user
by Deleted user

You mean income statement B/s dose not show profit but if u mean real values for assets and liabilities ya

Khaled Abdelrehim ACCA DipIFR CMA
by Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

the change in owners equity

Veena Nazarath Melwin D'souza
by Veena Nazarath Melwin D'souza , sales Executive , school book company

yes

Deleted user
by Deleted user

yes as an item of owner`s equity

Muhammad Nouman Shafique Awan

balance sheet does not show current year profit or loss...
instead it is shown in STATEMENT OF CHANGES IN EQUITY...
it is a seperate statement from balance sheet..
all the changes in the equity portion of balance sheet are reported in statement of changes in equity..
which includes dividends, profits, any transfers to other head of equity etc

SIRAJ AHMED MURUGESAN
by SIRAJ AHMED MURUGESAN , SENIOR MANAGER - FINANCE AND ACCOUNTS , ETA TECHNOPARK LIMITED

balance sheet does not show profit but it reflects the cumulative figure of both profit & loss made by the company since from its incorpoartion, as reserve and surplus 

Danish Farid
by Danish Farid , Tax Associate , Limra Law Firm

Balance sheet does not show net income.
Balance sheet shows the value of the business at a particular time

Mubashar Nawaz
by Mubashar Nawaz , Financial Controller , Arc Bunkering

In balance sheet it is shown as part of retained earnings / accumulated profits. 

Nasir Hussain Kumbhar
by Nasir Hussain Kumbhar , Sr.Accounting and operation manager , JUBAILI AGROTEC LTD

net profit is found by preparing profit and loss acount is then added with capital in the balancesheet.
there is no machanism in accounting by which a balancesheet derives profit.
but profit is carried over to balancesheet from p& l account added to capital at liability side of balancesheet

Md. Nurujjaman
by Md. Nurujjaman , Finance and Admin Manager , Zaman Enterprise

No, balance sheet not directly shown P and L. Its reflects under owners equity and retained earning head.

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